SoftBank and Uber have seen their Didi shares plummet in value already, and now they’re sinking further on a potential threat from Chinese regulators.
The shares were already in freefall amid a crackdown by the Chinese government on domestic companies listed in the U.S. Didi said in December that it would delist from the New York Stock Exchange and instead list in Hong Kong. On Friday,that Didi hadn't complied with data-security requirements necessary to proceed with a share sale in Hong Kong.
Softbank owns about 20% of Didi. The Japanese conglomerate's stake is now worth around $1.8 billion, down from close to $14 billion at the. Uber's roughly 12% stake has fallen from more than $8 billion in June to just over $1 billion today.annual reportThe hole is deepening and reflects a broader headwind for the tech sector, which is getting hammered on the public market.
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